Korean Air CEO Dies Weeks After Being Kicked Off Board

The head of South Korea’s flag carrier Korean Air — whose family have been embroiled in multiple scandals including an infamous “nut rage” tantrum — has died, the airline said Monday, sending its shares soaring.

Cho Yang-ho, 70, was on trial for corruption and his death comes less than two weeks after he was forced off the board by shareholders amid snowballing scandals surrounding his family members.

The company said Cho “died peacefully” in a Los Angeles hospital on Sunday from a chronic illness.

“Chairman Cho has returned to the sky, which he has longed for and loved the most in life,” it said in a statement.

The tycoon was the chairman of the Hanjin Group — one of the sprawling family-led conglomerates known as “chaebol” that dominate the South Korean economy — and controlled around 30 percent of Korean Air through its parent company Hanjin KAL.

Last month he became the first controlling shareholder of a South Korean conglomerate to be kicked off the board when he failed to secure the required two-thirds majority to be re-elected, but the company subsequently said he would carry on playing a management role.

Hanjin KAL shares leaped in Seoul, closing 20.6 percent higher, while Korean Air Lines ended up nearly two percent higher and other affiliates also rose.

“The death appears to have helped erase the so-called CEO risks, which have plagued Hanjin group firms, as a series of controversies and misconducts by the owner family members have hurt corporate values,” Yonhap news agency quoted a brokerage analyst as saying.

Under Cho, Korean Air emerged as one of the world’s top airlines, flying to 124 cities in 44 countries, and he headed the bid committee that saw the South awarded the 2018 Winter Olympics.

But the Cho family has come under scrutiny in recent years after being embroiled in multiple criminal probes over charges including assault, embezzlement and smuggling luxury goods.

Cho was on trial for embezzling more than 20 billion won ($18 million) and unfairly awarding contracts to companies controlled by his family members.

His two daughters, who held management positions at Korean Air, previously became viral sensations for temper tantrums dubbed the “nut rage” and “water rage” scandals, forcing Cho to issue a public apology and remove them from their posts.

Cho Hyun-ah, the elder daughter, made global headlines in 2014 for kicking a cabin crew chief off a Korean Air plane after she was served macadamia nuts in a bag rather than a bowl.

Her younger sister Cho Hyun-min was accused last year of throwing a drink into an advertising agency manager’s face during a business meeting.

Cho’s wife Lee Myung-hee has been questioned by police several times in connection with allegations of assault against her employees including cursing, kicking, slapping and throwing a pair of scissors.

Cho himself received a suspended jail sentence for tax evasion in 2000.


  1. Do you have a spam problem on this site; I also am a blogger, and I was curious about your situation; we have developed some nice methods and we are looking
    to trade methods with other folks, be sure to shoot me an e-mail if interested.

  2. Hi! I know this is somewhat off-topic but I had to ask.
    Does building a well-established website such as yours require a large amount of work?
    I’m brand new to writing a blog however I do write in my journal daily.
    I’d like to start a blog so I will be able to share my own experience and feelings online.
    Please let me know if you have any recommendations or tips for new aspiring blog
    owners. Appreciate it!

  3. Do you mind if I quote a few of your articles as long as I provide credit and sources back to your blog?
    My blog site is in the very same area of interest as yours and my users would certainly benefit from a lot of
    the information you present here. Please let me know if this okay with
    you. Cheers!

  4. Right here is the right web site for anybody who would
    like to find out about this topic. You know so much its almost
    tough to argue with you (not that I personally would want to…HaHa).
    You certainly put a new spin on a topic that has been discussed for a long time.
    Excellent stuff, just wonderful!

  5. Write more, thats all I have to say. Literally, it seems as though you relied on the video to make your point.
    You obviously know what youre talking about, why throw away your intelligence on just posting videos to your weblog when you
    could be giving us something informative to read?

  6. I don’t even know the way I ended up here, but I thought this put up was good.
    I do not know who you are however definitely you’re going to a well-known blogger when you are not already.

  7. Howdy! I know this is sort of off-topic however I needed to ask.
    Does running a well-established website such as yours require a massive amount
    work? I’m brand new to writing a blog however I do write in my diary daily.
    I’d like to start a blog so I will be able to share my experience and thoughts online.
    Please let me know if you have any kind of
    suggestions or tips for brand new aspiring blog owners. Appreciate it!

  8. Greetings I am so excited I found your weblog, I really found you by accident,
    while I was researching on Google for something else,
    Anyways I am here now and would just like to say kudos for a incredible post and a all round entertaining blog (I also love the theme/design), I don’t
    have time to read it all at the minute but I have saved it and also added your RSS feeds, so when I have time I will be back to read a lot more,
    Please do keep up the fantastic job.

  9. Hello very nice web site!! Man .. Beautiful .. Wonderful ..
    I will bookmark your website and take the feeds also? I am satisfied to find a lot of helpful info here in the post, we need work out more strategies in this regard, thanks
    for sharing. . . . . .

  10. I just want to say I am just beginner to blogs and honestly savored this blog site. Very likely I’m want to bookmark your blog post . You surely come with beneficial article content. Thanks for sharing with us your website page.

Leave a Reply

Your email address will not be published.